Indian Gold Demand Set to Revive

By

Biman Mukherji and

Swansy Afonso

Updated April 6, 2009 5:07 am ET

NEW DELHI -- India is expected to resume gold imports in April after virtually none in the past two months, but fresh purchases by the world's largest consumer would happen only after banks have offloaded unsold stocks, the president of the Bombay Bullion Association said Monday.

Suresh Hundia told Dow Jones Newswires that banks in India are likely to sell 4 to 5 metric tons of gold stocks "immediately" due to a sharp fall in local prices.